Valencia County FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Valencia County, New Mexico based on real HMDA transaction records.

Loan Details

US County (Smart Autofill)

Loan Type

Valencia County, NM Benchmarks

FHA averages

Typical Property Value$310,414

Average Down Payment6.6%

Average Interest Rate5.992%

Effective Tax Rate0.57%

Median Tax Paid$1,374/yr

Tax Growth (Historical)-2.4%

Based on 580 regional loans totaling $163,770,000 (HMDA database).

Home Price

Down Payment

$20,487 down · $289,927 financed

Interest Rate

Loan Term

yrs

Extra Monthly Principal

Paid directly to principal

Mortgage Start Date

Payoff estimated June 2056

Local & Recurring Costs

Property Tax Rate

$147 / month

Home Insurance

Annual premium

HOA Dues

Per month

PMI Rate

$123 / month

Estimated Monthly Payment

$2,187/mo

Principal & Interest$1,767
Property Tax$147
Home Insurance$150
FHA MIP$123

Amortization · Remaining Balance

Financed Loan Amount

$295,000

Total Interest

$341,040

Total of Payments

$636,041

*Includes financed FHA Upfront MIP of $5,074

Local Market Insights

Valencia County FHA Mortgage Overview

In Valencia County, the 6.57% down payment on an FHA loan provides accessible entry, but mandatory Mortgage Insurance Premiums (MIP) apply for the loan’s life due to the 93.43% LTV ratio. This is ideal for buyers with sub-620 credit scores, as it enables purchase without a high down payment. For an FHA loan down payment analysis in Valencia County, New Mexico, the 0.57% property tax rate and recent -2.4% inflation-adjusted tax shift reduce monthly costs, improving affordability. When considering FHA mortgage options with property taxes, note that all loans here are for primary residences, not investments.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.